GREAT ATLANTIC RESOURCES CORP Vancouver, British Columbia--(Newsfile Corp. - September 20, 2017) - Great Atlantic Resources (TSXV: GR) (FSE: PH01) has received a diamond drilling permit for its Keymet Precious-Base Metal Property. The 3,400 hectare property, located approximately 20 kilometres northwest of Bathurst, in northeastern New Brunswick, Canada, has excellent access with paved roads, including a provincial highway, transecting the property.
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The company plans to begin drilling a minimum of 500 metres in mid-September in the northwest region of the property. Multiple base metal and silver bearing vein occurrences are reported in this region, home of the historic Keymet Mine which operated during the 1950s, when it was gutted by fire. The mine was never reopened due to global recession and low silver prices.
In the 1980s, closed-spaced drilling by previous operators intersected near-surface mineralized veins in the area of the Elmtree 12 base metal and silver bearing vein occurrence, approximately 1.4 kilometres northwest of the Keymet Mine. A 0.88 metre core length from 1981 reported 11.36% zinc, 7.72% copper, and 13.6 ounces per ton silver. In 1989, a 1.22 metre core length sample from a near-by drill hole reported 10.11% zinc, 16.4% copper, and 31 ounces per ton silver. These drill intersections were within a 50 metre vertical depth.
During 2015, Great Atlantic drilled 2 holes (2015-03 and 2015-04) from the same area, but in the opposite direction of the earlier holes. Hole 15-03 returned 16.68% zinc, 1.11% copper, and 152 grams per tonne silver over a 1.8 metre core length, along with 3.28 grams per tonne gold over a 2.1 metre core length. Hole 15-04 returned 8.68% zinc and 44.8 grams per tonne silver over a 4.28 metre core length at about 90 metres into the hole, and approximately 35 metres vertically under the main vein intersected in hole 15-03.
| Drill Results | |||||
| Company | Hole ID | Zinc | Copper | Silver | Metres |
| Great Atlantic | Hole 2015-03* | 16.68% | 1.11% | 152 gpt | 1.8 metres |
| Great Atlantic | Hole 2015-04 | 8.68% | 0.29% | 44.8 gpt | 4.28 metres |
| Previous | 1981 Hole | 11.36% | 7.72% | 13.6 ounces per ton | 0.88 metres |
| Previous | 1989 Hole | 10.11% | 16.4% | 31 ounces per ton | 1.22 metres |
| * Included 3.28 grams per tonne gold over a 2.1 metre core length | |||||
The new drill program plans to test the continuation of the zinc, copper and silver bearing veins along strike and also test the continuation of the gold bearing zone intersected in Hole 15-03.
During 2015, Great Atlantic conducted trenching in the area of these reported 1980s drill holes. One trench exposed a northwest striking zinc, copper and silver bearing mineralized vein approximately above the 1980s drill intersections. A 0.5 metre channel sample across the vein returned 1.52% zinc, 1.94% copper and 308 grams per tonne silver.
The shares are trading at $0.20 and with 33 million shares outstanding, the company is capitalized at $6.6 million.
For more information, please visit the company's website www.greatatlanticresources.com. Investor Relations is handled by Kaye Wynn Consulting Inc. They can be reached at 604-558-2630 or 888-280-8128, or email at info@kayewynn.com.
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